Rodriguez Corporation includes the following items in its liabilities at December 31, 2014. 1. Notes payable, $25,000,000,

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Rodriguez Corporation includes the following items in its liabilities at December 31, 2014.

1. Notes payable, $25,000,000, due June 30, 2015.
2. Deposits from customers on equipment ordered by them from Rodriguez, $6,250,000.
3. Salaries and wages payable, $3,750,000, due January 14, 2015.

Instructions
Indicate in what circumstances, if any, each of the three liabilities above would be excluded from current liabilities.

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Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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Question Posted: Nov 08, 2022 05:39 AM

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Rodriguez Corporation includes the following items in its liabilities at December 31, 2014. 1. Notes payable, $25,000,000,

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Notes payable would not typically be excluded from current liab...View the full answer

Intermediate Accounting

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